Answers OC27 Economics-2102310-Sem-Meadows Unit 2 TestQuestion 2

2

QuizMultiple Choice

Unit 2 Test

Question 2 of 25 • (OC27) Economics-2102310-Sem-Meadows

Which statement best explains the law of demand?

Answer

A

The quantity demanded by consumers increases as prices rise, then decreases as prices fall.

B

The quantity demanded by consumers decreases as prices rise, then increases as prices fall.

C

The quantity demanded by producers increases as prices rise, then decreases as prices fall.

D

The quantity demanded by producers decreases as prices rise, then increases as prices fall.

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